The column is called "The Best Policy," and will run every other week. In his debut column for Slate titled "Too Big Not To Fail" Spitzer takes the U.S. government to task for trying to bailout financial institutions.

In his column Spitzer writes "It is time we permitted the market to work: This means true competition with winners and losers; companies that disappear; shareholders and CEOs who can lose as well as win; and government investment in the long-range competitiveness of our nation, not in a failed business model of financial concentration and failed risk management that holds nobody accountable."

Scanning the comments section of the article, reaction to Spitzer is mixed. One reader comments "Gosh, Eliot, I wish I could take you seriously. But in my mind, ‘Eliot Spitzer’ is a synonym for ‘sleazeball politician with God complex and a lingering rash.’"

Another reader praises Slate for bringing Spitzer on as a columnist while lamenting the fact he was forced to resign as governor.

"Thank you for having Eliot Spitzer as a contributor. I thoroughly enjoyed the column– and his work in cleaning up some of wall street–a shame that America has forgotten his great work. Maybe, if he had been allowed to stay, he would have been able to do more housecleaning."

 James Ledbetter – (Photo Credit: MediaBistro.com)

Launch dates remain a bit unclear – "this summer" is as precise as anyone’s been – but other things, such as the site’s targets, have been well established.  Editor James Ledbetter touched on this issue in an interview with Reuters.

"We’re reaching a different audience," explained Ledbetter, "a general interest site for people who have an interest in money and financial affairs and economics … but not specifically or necessarily who work in the finance industry."

So long as this stays close to the Slate tradition, and not nearer to the MainStreet.com model, it sounds like a solid idea.  There’s certainly been no shortage of finance-related stories as of late.

Then again, The Big Money will be entering a pretty crowded market.  A Jossip article states, "Business needs another website like Ryan Seacrest needs another job."